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PartyGaming plc ist eine Onlinespielefirma. Sie wird an der London Stock Exchange im FTSE Index gelistet. Das Hauptgeschäft der Firma war Onlinepoker über die Plattformen tastystuff.se und tastystuff.se Der Hauptsitz des Unternehmens befindet sich. PartyGaming plc ist eine Onlinespielefirma. Sie wird an der London Stock Exchange im FTSE Index gelistet. Das Hauptgeschäft der Firma war Onlinepoker. Party Gaming – Das Netzwerk mit dem weltgrößten Pokerraum! „Um Ihnen ein vollkommenes Pokererlebnis zu bieten, gibt es bei PartyPoker eine einzigartige. Pressroom: Hier finden Sie die gesammelten Presseaussendungen von Partygaming PLC. Bereits im vergangenen Jahr war PartyGaming an VASCO herangetreten. Der Spieleanbieter war auf der Suche nach einem Strong-Authentication-System für.
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However, you may not know that one of their competitors, PartyPoker, blazed the trail into the online poker space, quickly becoming a juggernaut with the majority of the market share of players and revenue.
We are going to give you a full history of the company, from its launch to becoming the most valuable gaming company on the planet, and the eventual shift in focus that allows it to be where it is today.
This was a very lucrative business in the s, giving Parasol an excellent base of income to invest in her own business.
She opened a couple of other brands to help cross-promote to her growing database. As the s began, online poker was starting to enter the conversation, and Parasol knew she needed to be in that game.
In , Parasol offered shares in her company iGlobalMedia to Anurag Dikshit, a software developer from India, in return for his development of a multiplayer poker platform.
Dikshit had a very successful business of his own, and he invited Parasol to become a partner in his business as well.
With that, the core of PartyGaming was formed. Several big casino sites jumped at this opportunity, and the iGlobalMedia poker network was live.
Poker was about to become very popular as a spectator sport with the introduction of the hole-card camera invented by Steve Lipscomb, founder of the World Poker Tour.
The fact that PartyPoker had a network of operators, combined with the massive database of gamblers and potential gamblers that they held from their time in the casino world, added up to a massive rate of growth over the next couple of years.
The site was taking on tens of thousands of concurrent players each day, and while this was fantastic from a revenue standpoint, the original platform was bursting at the seams.
It was up to Dikshit and his development team to re-write the software in such a way that it could handle a much higher volume of players.
The company was growing by double digits month after month, and it seemed that the only thing that could derail the business was a software meltdown.
The development team worked diligently and released updates that would allow for more extensive liquidity pools moving forward.
This was critical for the business, especially when they decided what they were going to do with their new-found profits.
With the advent of the in-table camera, poker was no longer a fringe event that was buried in late-night coverage once a year on ESPN; it was now a much more viewer-friendly product, as viewers could see the cards being played by some of the best players in the world.
The World Poker Tour quickly became a hot commodity; they ran and filmed many events across the U. These events not only attracted many of the top professional players, but they were also being broadcast around the world, thanks to excellent distribution partnerships.
By the second season of the WPT, it was evident that this was no passing fad, and the group at PartyPoker wanted in. Online poker was giving amateur players a vehicle with which to qualify for huge buy-in live events for a fraction of the price something that changed the industry forever in when Chris Moneymaker won the WSOP Main Event.
PartyPoker, then the leader in the online space, decided to enter a partnership with the tour — they would have their brand all over the broadcast and would become the official site for qualifying events to be played.
Taking it a step further, the site decided to also offer a partnership arrangement to Mike Sexton, who was the voice of the WPT.
Not only was Sexton a professional player himself, but it was also clear that he was becoming the leading broadcaster for the sport, so having him as the spokesperson for PartyPoker could not have a negative impact.
Now, PartyPoker had locked up sponsorship of one of the biggest poker tours, and its bombastic ambassador. Times were indeed very good for the four founders of the site, who had now relocated to Gibraltar.
With this investment in the WPT, combined with their large licensees like Empire Poker generating extra revenue for them, PartyPoker was in the place everyone sought after in — the top of the mountain.
There was the option of adding more skins or sponsoring other tours that were springing up around the world.
One thing was becoming certain — the online poker landscape had become crowded, and with sites like PokerStars, Ultimate Bet, and fighting for ad space, acquiring new players had become a costly endeavor.
To maintain and expand their market share, the company decided it made sense to raise money through an IPO. Given the uncertain legal status of online gambling in the United States at the time, the company prudently chose London as the place to stage their public offering.
However, to go public, the company had to make a decision about their story: were they a poker network in which they operated a skin, or were they going to focus on being an operator only?
It was evident that by the company did not need the revenue that came from their skins, so they started a discussion with them all to determine the fate of the licensing program.
As a result, PartyPoker ended up buying a couple of skins from their owners; the rest still wanted to operate their own businesses. In a risky yet calculated move, the company did a software update in the middle of the night that separated their skins onto their own version of the network that was independent of the PartyPoker brand.
However, that also meant a major blow to the liquidity on that network, causing the operators to become furious that it had not been handled better.
The largest of these skins, Empire Online, would be the most vocal; they sued the company for breach of contract and ultimately ended up settling with the firm and selling the assets to PartyGaming.
This resulted in the valuation of the company being set at 4. The founders were instant billionaires. The main difference?
Four founders sitting in Gibraltar and the Isle of Man had grown their little online poker business to the pinnacle of the gambling world in only five years.
Well, they started by producing a lot of their own content for television distribution. The company started to spend more money in markets locally, tapping into specific likes and dislikes in each country that would allow them to promote their brand more regionally.
While their sponsorship of the World Poker Tour continued, the big news in the industry was that the company had secured a lengthy sponsorship arrangement with the World Series of Poker.
The most desirable tournaments in the world would now have PartyPoker logos splashed across them for years to come… or so they thought.
In October , everything changed for PartyGaming and the rest of the U. This act would make payment processing of gaming transactions by Americans illegal for U.
Not shockingly, this news was met with panic across the industry. Companies started scrambling to understand what this meant for their business, while American players made a mad dash to withdraw their balances.
The company started to think through all the options in front of them. Merging with other companies in the space was one option.
They also considered the idea of purchasing a bank in a gaming-friendly jurisdiction and taking on the processing arm in-house.
However, each of the ideas faced a significant roadblock: as a publicly traded company, PartyGaming had a fiduciary responsibility to their shareholders.
This had a major impact on the company from both a liquidity and a valuation perspective. The industry was shell-shocked by the decision of PartyGaming.
Other public gaming companies followed suit, while companies like PokerStars remained in the U. As a result, PartyGaming had to move on to new markets and new products to build back the confidence of their shareholders and to grow their company once again.